Despite the challenges posed by the novel coronavirus, the Board of Control for Cricket in India (BCCI) managed to host the 13th edition of the Indian Premier League (IPL) in the United Arab Emirates (UAE) across three venues namely Dubai, Abu Dhabi, and Sharjah. While IPL 2020 can be considered as one of the most successful tournaments in the history of the league, the T20 Championship saw a loss of 3.6 percent in its brand value.
In 2019, the IPL had a brand value of INR 47,500 crore with a growth of seven percent over the previous season. However, the brand value saw a decrease and reached 45,800 crores in 2020. The main reason behind the same is the decrease in the economy of the country. Also, IPL 2020 saw a decrease in the sponsorship revenue as instead of VIVO, Dream 11 was roped in as the title sponsor. While Dream11 paid INR 222 crores, Vivo had signed a deal of INR 440 crores.
The entire study was carried out by Duff & Phelps who released a brand valuation report on Wednesday. “Similar to the impact on other businesses and the overall economy, the pandemic has led to a decline in the IPL ecosystem value. However, with people forced to spend time at home, there was an increase in IPL television viewership making the 2020 edition a huge success for broadcasters as it broke viewership and advertising revenue records,” said Santosh N of Duff & Phelps India as quoted by Wionews.
IPL 2020 broke records in terms of TV Viewership
Further, the report revealed that Mumbai Indians has retained the top spot in brand rankings for the fifth season on the trot but they saw a decrease in their brand value by 5.9 percent from the year 2019. CSK and KKR, on the other hand, faced a blow by 16.5 percent and 13.7 percent respectively from the year 2019.
One of the biggest positives of IPL 2020 was an increase in the TV ratings as people turned in huge numbers to watch the games from the comfort of their home via television or other online mediums.
“Television ratings skyrocketed and advertisers tapped into this opportunity to scale up their brand image. Despite the challenging year, this momentum is indicative of how strong the IPL brand has become.
“With the economy opening and virus infections decreasing, sponsorship deals are expected to be back to the pre-pandemic levels. Also, an increase in the number of teams in 2022 and the renewal of media rights in 2023 will enhance the IPL ecosystem value in the future,” Santosh added.
Source: The source of this content is our cricket news platform Crictracker.
- Bhuvneshwar Kumar – The warhorse India needs the most in 2021
- Hemang Badani not pleased with Varun Chakravarthy after the spinner fails to clear fitness tests ahead of the England T20Is
- ‘Six 6s, Adelaide 36’ – Ravi Shastri shows Indian cricket’s unique connection with number 36
- ‘Let Rishabh Pant be Rishabh Pant’ – Rohit Sharma backs the left-hander to come good against England in the T20I series
- India vs England: Wasim Jaffer predicts the hosts’ probable playing eleven for first T20I